From a65b9fbcd6189317173afcceb94a066e967d44c4 Mon Sep 17 00:00:00 2001 From: rating89us <45968869+rating89us@users.noreply.github.com> Date: Fri, 12 Feb 2021 15:39:11 +0100 Subject: [PATCH] ch04: fix multisig explanation --- ch04.asciidoc | 2 +- 1 file changed, 1 insertion(+), 1 deletion(-) diff --git a/ch04.asciidoc b/ch04.asciidoc index bc38e1dc..f22924ce 100644 --- a/ch04.asciidoc +++ b/ch04.asciidoc @@ -649,7 +649,7 @@ P2SH is not necessarily the same as a multisignature standard transaction. A P2S ===== Multisignature addresses and P2SH -Currently, the most common implementation of the P2SH function is the multi-signature address script. As the name implies, the underlying script requires more than one signature to prove ownership and therefore spend funds. The bitcoin multi-signature feature is designed to require M signatures (also known as the “threshold”) from a total of N keys, known as an M-of-N multisig, where M is equal to or less than N. For example, Bob the coffee shop owner from <> could use a multisignature address requiring 1-of-2 signatures from a key belonging to him and a key belonging to his spouse, ensuring either of them could sign to spend a transaction output locked to this address. This would be similar to a “joint account” as implemented in traditional banking where either spouse can spend with a single signature. Or Gopesh,((("use cases", "offshore contract services"))) the web designer paid by Bob to create a website, might have a 2-of-3 multisignature address for his business that ensures that no funds can be spent unless at least two of the business partners sign a transaction. +Currently, the most common implementation of the P2SH function is the multi-signature address script. As the name implies, the underlying script requires a minimum number of signatures to prove ownership and therefore spend funds. The bitcoin multi-signature feature is designed to require M signatures (also known as the “threshold”) from a total of N keys, known as an M-of-N multisig, where M is equal to or less than N. For example, Bob the coffee shop owner from <> could use a multisignature address requiring 1-of-2 signatures from a key belonging to him and a key belonging to his spouse, ensuring either of them could sign to spend a transaction output locked to this address. This would be similar to a “joint account” as implemented in traditional banking where either spouse can spend with a single signature. Or Gopesh,((("use cases", "offshore contract services"))) the web designer paid by Bob to create a website, might have a 2-of-3 multisignature address for his business that ensures that no funds can be spent unless at least two of the business partners sign a transaction. We will explore how to create transactions that spend funds from P2SH (and multi-signature) addresses in <>.